DOJ Indicts Democratic Lawmaker for Corruption

DOJ Indicts Democratic Lawmaker for Corruption

By Martin Matishak

Martin Matishak, The Fiscal Times

The Justice Department has indicted Rep. Chaka Fattah (D-PA) on almost 30 federal counts of political corruption.

The 11-term congressman and four associates were indicted on 29 federal charges, including bribery, money laundering, falsification of records, and multiple counts of bank and mail fraud, the department announced Wednesday.

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The charges against Fattah and his associates stem from his failed run for Philadelphia mayor in 2007.

Fattah and the others "embarked on a wide-ranging conspiracy involving bribery, concealment of unlawful campaign contributions and theft of charitable and federal funds to advance their own personal interests,” according to Assistant Attorney General Leslie R. Caldwell.

Justice alleges that Fattah borrowed $1 million from a wealthy donor during his mayoral bid and that he returned $400,000 in unused funds and developed a scheme to repay the remaining $600,000 by tapping charitable and federal grants through a local non-profit the Pennsylvania lawmaker created.

Federal officials also allege that the Fattah sough to repay supporters by offering federal grants and used funds from both his mayoral and congressional campaigns to pay down his son's student loan debts of around $23,000.

"Public corruption takes a particularly heavy toll on our democracy because it undermines people’s basic belief that our elected leaders are committed to serving the public interest, not to lining their own pockets,” she said in a statement.

House Minority Leader Nancy Pelosi (D-CA) said that Fattah has stepped down as the top Democrat on the House Appropriations Commerce, Justice, Science and Related Agencies subcommittee.

Hamming It Up

Cruz Won’t be Trumped—Watch Him Cook Bacon on a Machine Gun

By Martin Matishak

Sen. Ted Cruz (TX) has shown an affinity for breakfast foods  he did, after all, famously read "Green Eggs and Ham" on the Senate floor. Now, the Texas senator is the latest Republican presidential contender to ham it up in a stunt video released Monday—this time, he separates himself from the pack by cooking bacon with a machine gun.

“Few things I enjoy more than on weekends cooking breakfast with the family. Of course in Texas, we cook bacon a little differently than most folks," Cruz says in a video. Cruz walks the viewer through the rather unique cooking process, including wrapping strips of bacon around the gun’s nozzle and encasing it in aluminum foil to keep in the heat.

Cruz himself fires off several rounds at a gun range. After he’s finished, and gotten grease all over the cement floor, he uses a fork to pick a piece of still sizzling meat off the barrel and eats it.

“Mmm. Machine gun bacon,” the senator says with a smile before chuckling.

The 66-second clip comes roughly two weeks after Sen. Lindsey Graham (R-SC), another White House hopeful, shot his own video where he used a variety of methods to destroy cellphones after he had his phone number given out by GOP frontrunner Donald Trump.

The video is sure to bounce around the web and get people talking about Cruz’s candidacy just as the Republican field gets ready to take the stage for its inaugural debate.

An NBC/Wall Street Journal poll released on Sunday showed the Texas lawmaker taking fifth in the GOP primary race, with 9 percent support. That put him 10 points behind current polling leader Donald Trump. Cruz also trails Wisconsin Gov. Scott Walker, former Florida Gov. Jeb Bush and neurosurgeon Ben Carson, according to the survey, meaning that the bacon stunt can't hurt: His campaign could definitely use more sizzle.

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Don’t Feel Like a Chump When You Close on Your New Mortgage

iStockphoto
By Beth Braverman

Mortgage closing costs dropped 7 percent over the past year, falling to $1,847 on a $200,000 loan, according to a new analysis by Bankrate.

Typical closing costs varied by state, ranging from $2,163 in Hawaii to $1,613 in Ohio. You can find the average rate for your state in the table below.

Lenders compete for business, so shopping around with at least three mortgage providers can help you reduce the fees associated with your loan. “Homebuyers have more say over closing costs than they think,” Bankrate Senior Mortgage Analyst Holden Lewis said in a statement.

Even as banks lower their mortgage fees, they’re increasing fees in most other categories, according to MoneyRates.com.

While lower mortgage fees are good news for homebuyers and those refinancing their loans, the average saving amount to just $140. That’s not much relative to the total costs associated with buying a house. The average down payment for homebuyers in the first quarter of 2015 was $57,710, for example.

Related: Want Your Own Home? Here’s How to Do the Math

The costs don’t stop once the buyers move in. On top of mortgage payments, homeowners face an average of more than $6,000 in additional costs related to their house, including homeowners insurance, property taxes and utilities.

The National Association of Realtors expects home prices to increase 6.5 percent this year to a median $221,900, which would put them at the same level as their 2006 record high.

For buyers, better news than the lower mortgage fees is that rates remain relatively low, falling to 3.98 percent last week, per Freddie Mac.

Closing costs

StateAverage origination feesAverage third-party feesAverage origination plus third-party fees
Alabama $1,066 $776 $1,842
Alaska $935 $922 $1,857
Arizona $1,208 $761 $1,969
Arkansas $1,057 $760 $1,817
California $937 $896 $1,834
Colorado $1,192 $719 $1,910
Connecticut $1,074 $960 $2,033
Delaware $904 $924 $1,828
District of Columbia $1,077 $718 $1,794
Florida $1,028 $778 $1,806
Georgia $1,058 $821 $1,879
Hawaii $1,033 $1,130 $2,163
Idaho $894 $788 $1,682
Illinois $1,080 $767 $1,847
Indiana $1,067 $770 $1,837
Iowa $1,161 $762 $1,923
Kansas $1,047 $753 $1,800
Kentucky $1,060 $737 $1,797
Louisiana $1,060 $817 $1,877
Maine $897 $830 $1,727
Maryland $1,093 $742 $1,835
Massachusetts $905 $851 $1,756
Michigan $1,072 $746 $1,818
Minnesota $1,067 $689 $1,757
Mississippi $1,046 $837 $1,884
Missouri $1,040 $792 $1,833
Montana $1,062 $855 $1,917
Nebraska $1,047 $770 $1,817
Nevada $1,002 $848 $1,850
New Hampshire $1,084 $750 $1,835
New Jersey $1,181 $913 $2,094
New Mexico $1,076 $876 $1,952
New York $1,032 $879 $1,911
North Carolina $1,036 $875 $1,911
North Dakota $1,045 $791 $1,836
Ohio $933 $681 $1,613
Oklahoma $1,027 $734 $1,761
Oregon $1,080 $785 $1,864
Pennsylvania $1,055 $678 $1,733
Rhode Island $1,093 $802 $1,896
South Carolina $1,058 $837 $1,895
South Dakota $1,055 $704 $1,759
Tennessee $1,033 $773 $1,806
Texas $1,031 $833 $1,864
Utah $909 $788 $1,697
Vermont $1,074 $862 $1,936
Virginia $1,050 $787 $1,837
Washington $1,077 $824 $1,901
West Virginia $1,067 $904 $1,971
Wisconsin $1,047 $723 $1,770
Wyoming $874 $814 $1,689
       
Average $1,041 $807 $1,847

Bankrate.com surveyed up to 10 lenders in each state in June 2015 and obtained online Good Faith Estimates for a $200,000 mortgage to buy a single-family home with a 20 percent down payment in a prominent city. Costs include fees charged by lenders, as well as third-party fees for services such as appraisals and credit reports. The survey excludes title insurance, title search, taxes, property insurance, association fees, interest and other prepaid items.

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Why Are Nearly 40 Million American Adults Not Using the Internet?

A man types on a computer keyboard in Warsaw in this February 28, 2013 illustration file picture. One of the largest ever cyber attacks is slowing global internet services after an organisation blocking "spam" content became a target, with some experts s
Kacper Pempel
By Millie Dent

For most of use, the Internet is inescapable. We use the Web for everything from paying bills and writing emails to signing up for health insurance and watching our favorite shows.

However, a surprisingly large number of adults in the U.S. have resisted the siren call of the digital life. According to new data from Pew Research, 15% of the adult U.S. population is not online.

Who makes up this group of Internet naysayers? Here are some highlights:

  • Unsurprisingly, adults aged 65 and older make up the largest single age group (39 percent) most likely to say they never go online.
  • The higher the level of educational achievement, the greater the likelihood of Internet usage. For adults with less than a high school education, a third do not use the Internet.
  • Household income is also a significant factor. Adults in the most affluent households are eight times more likely to use the Internet than adults in households with an income of less than $30,000 per year. Nineteen percent of the non-users cite the high expense of Internet service or owning a computer.
  • Americans living in rural areas are twice as likely as individuals in urban or suburban regions to not use the Internet.
  • As for race and ethnicity, 20 percent of blacks and 18 percent of Hispanics do not use the Internet, compared with 14 percent of whites and 5 percent of English-speaking Asian-Americans.
  • While 34 percent of people who do not use the Internet choose not to, for others it’s not a choice, according to an earlier Pew report.
  • Thirty-two percent say the Internet is too complicated or difficult to use. 

The Crazy Reason Treasury Department Officials Can’t Get Their Work Done

By Eric Pianin

Treasury Department officials are being driven to distraction these days, but it’s not because of the expiring debt ceiling or other pressing financial controversies.

Instead, loud music from a New Orleans-style street band known as Spread Love has reportedly driven some officials and employees at the Treasury building to wear earphones to block out the noise and even move meetings to other parts of the building to find some peace and quiet.

Related: The Next Debt Crisis Could Be Much Worse than in 2013, GAO Warns

“We have to relocate our conference calls,” one Treasury employee told The Washington Post. “We can’t have meetings in that corner of the building anymore. It’s like they’re playing music in the building.”

Members of Spread Love have become fixtures of downtown Washington’s street scene and are collecting generous donations for playing their drums, trombone and other brass instruments. Tourists and other office workers out during their lunch hour appear to love the group, but not so the serious-minded economists and bean counters at the Treasury – especially when the band moves within easy shouting distance at the corner of 15th and G Streets NW.

Treasury Secretary Jack Lew’s staff members aren’t the only ones complaining about the jarring music. Partners and associates at the law firm of Skadden, Arps, Slate, Meagher & Flom find it hard to concentrate on their cases with daily interruptions. It got to the point that the firm dispatched a security guard to offer band members $200 a week if they would play somewhere else. Lonnie Shepard, one of the trombonists, told the newspaper that he laughed at the offer because “We can make that in an hour.”

Related: End of Sanctions Worth Hundreds of Billions to Iran

Rob Runyan, a spokesperson for the Treasury Department, said that employee complaints have made their way to the office of the assistant secretary for management, Brodi Fontenot, but there really wasn’t much that could be done.

“The band and other street noise are part of the distractions of working in downtown D.C.,” Runyan said in an interview Friday.   

Cockroaches, Rats and Mice: These Are the Country’s Most Infested Cities

By Beth Braverman

New York really is the most infested city in the country, at least according to a Bloomberg analysis of Census Bureau data on cockroach, mouse and rat sightings.

The Big Apple doesn’t lead in any of those individual categories. Homes in Tampa, Fla., have the most roaches, and those in Seattle may have the most rats. Philadelphia houses had the most mouse sightings in the country. But when Bloomberg combined all three categories, New York came out with the highest cumulative score.

Perhaps surprising given the economic state of the city, Detroit residents were the least likely to report seeing a mouse, rat or roach.

Related: The Top 9 Summer Insects to Avoid and How

The data covered only 25 metro areas, so some large cities like Dallas, Los Angeles and San Francisco don’t appear on the list.

Roaches appear to enjoy nice weather. Nearly 40 percent of homes in Tampa had evidence in roaches in the past year, followed by Houston and Austin. Cities with the fewest roach sightings were Seattle, Minneapolis and Detroit.

Mice, on the other, hand, seem to prefer the northeast. Nearly 20 percent of Philly homes had evidence of mice, followed by Baltimore and Boston. Tampa, Jacksonville, and Las Vegas had the lowest percentage of mouse sightings.

More than 20 percent of homes in Seattle and Austin had rats, with Miami rounding out the top three. Richmond, Va., Hartford, Conn., and Minneapolis had the lowest level of rat sightings.

All those vermin lead to big business. Last year, the U.S. pest control industry generated nearly $7.5 billion in revenue, a 3.5 percent increase year-over-year.

Bloomberg reported that the data also showed a difference in infestation levels of homes with families living below the poverty line and minority families, which were more likely to report evidence of rats and roaches.

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